All posts tagged US debt ceiling

Russia, which holds the world’s third-largest foreign currency reserves and trades almost all its commodities in dollars, appears to be remaining calm as talks on raising the U.S. debt ceiling remain deadlocked in Washington.

Three Russia fund managers said they are sanguine in the face of the August 2 deadline, with one even viewing Russia’s commodity-price driven stock market as a potential beneficiary of any fallout that could result should U.S. lawmakers fail to reach a deal. Their comments echo those of top Russian officials, who have said they are confident the U.S. will move to raise the debt limit in time.

“Most likely they will reach an agreement, as they have done so many times in the past,” said Gunter Schwabl, a senior fund manager at Erste Sparinvest in Vienna. Read More »

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